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GP CPA P.C. 

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GP P.C. CPA

Welcome to

 our blog.

Musings from our firm about topics of interest to us, not always related to business. Should any of these topics spark your interest, we are only an email or call away. Don’t be shy.

GP CPA P.C. 

WELCOME TO

our blog.

Musings from our firm about topics of interest to us, not always related to business. Should any of these topics spark your interest, we are only an email or call away. Don’t be shy.

GMP CPA is now a GP CPA, P.C.

GMP CPA (aka Gary M Prusiensky, CPA, P.C.) has now officially become “GP CPA, P.C.” Since 1996 GP CPA has served the greater Charlotte area with accounting, tax, and payroll services in one form or another. While things may have been different back then, they were not...

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Extension season continues…

GP CPA recently had an opportunity to speak with Tina Orem, author and journalist at Nerd Wallet, about personal income tax extensions. While we don’t write as eloquently as Tina, we do speak the same language, taxes. Tina asked some important questions about...

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Extensions

Extensions are a dirty word at our office. 99.9% of Nearly all of our clients are able to get their business’ books closed and personal tax information to us in plenty of time to make the filing deadlines. This allows our clients a peace of mind knowing that their...

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Let’s talk about Basis!

“Basis” is a loaded word for accountants. It is very much described in the same regards as “time”, in that there never seems to be enough time when it is needed most. For many S-corp shareholders, basis is starting to come into play at tax time and many are unprepared...

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Intuit is raising their prices!

Prus CPA’s arch nemesis, Intuit, is raising prices across the board. That isn’t even the worst part, as Intuit will be offering “live” bookkeeping as an add-on service for their QBO subscribers. That announcement means that Intuit will now be competing directly with a...

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Long-term strategies and the ACA

As serial entrepreneurs grow businesses and expand their overall business footprint, there is a tendency for advisors (such as Prus CPA) to explore the idea of consolidating certain elements of the businesses. This is often an effective strategy for managing costs and...

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Newsletters are the new….newsletters?

GMP CPA has an affinity for all things current events, and sometimes, just sometimes, they are not even tax related. We are currently subscribed to a few different local/national emails that we actually open and read most of the time. In no particular order:Charlotte...

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Depreciation options

Dear GMP CPA Client:We are wrapping up the Company's tax returns and would like to make you aware of an option that the Company is eligible to make based on the new tax laws passed in 2017. This option relates to depreciation, which for many business owners, is a big...

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Why your kids are model employee’s?

Working with family in a small business environment tends to be either very rewarding or makes for even more awkward holiday gatherings. If you own an S-corp and have children, it has never before been as lucrative to have them work for your company. Many kids have...

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2019 Payroll w/Gusto

Payroll is often a source of pain for business owners. S-Corp owners know that they have to have it, although most still find it a bit…mysterious. The big payroll companies offer ready-built platforms that offer a ton of features, although they are often difficult to...

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2019 – Happy New Year

Welcome to 2019! We start the year off a little ominously; a partial government shutdown, looming international trade issues, and a rollercoaster stock market. All of these trending topics seem to make 2019 seem a little too much like 2009. And with the start of a new...

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Cost segregation

Dear GMP CPA Client: Cost segregation is the magic sauce that breaks your real property into its components and some of these components can depreciate much faster than the typical overall standard 27.5 or 39 year periods. This magic sauce is brought you courtesy of a...

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Tax Cuts & Jobs Act Nov Update

Tax Cuts & Jobs Act Nov UpdateNovember 2018IRS Says TCJA Allows Client and Prospect Business Meal Deductions In Notice 2018-76, the IRS states that client and prospect business meals continue as tax deductions under the Tax Cuts and Jobs Act. This is very good...

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GMP CPA Business Advisor

GMP CPA recently met with a prospective client and when the topic of being a business advisor came up, we heard an interesting point of view. The potential client was specifically looking for a professional that would offer more than [just] tax & accounting...

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GMP CPA 2018 Year End Calendar

Hello GMP CPA Clients, Greetings from Gary, Justin, Connie, Zach, and Diane. While most of you are probably accustomed to hearing from one of us regularly, this time of the year has some special dates and deadlines that we would like to bring to your attention. For...

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The most wonderful time of the year…

The holiday’s are in full swing, which we know is “official” because the Halloween themed items are sitting side-by-side with Christmas related stuff kitsch decorations in almost every store. During this most wonderful time of the year, GMP CPA looks forward to as...

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QBO v Xero a practical dissertation

GMP CPA is a silver Xero partner, which does not mean that we are in second place, it just means that we are growing (and there is room for improvement). Our firm’s preference is clearly with Xero as far as online accounting platforms and the reasons are many. Rather...

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FICO presents the UltraFico Score

For those of you who bemoan your credit score, FICO, the company that everyone recognizes as behind that magical number is making some changes! FICO is calling this the “UltraFICO Score” and damn if it doesn’t sound sexy. This “UltraFICO” item will be customized to...

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Forming a Management Entity

Many organizations experience a level of growth that stretches the leadership or executive team thin across several entities. This is especially true when there is one executive that is responsible for the day to day decisions of several operating units or divisions....

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Automation in the automotive industry

At GMP CPA, we work with several clients in the automotive field, from classic car restorations to rebuilding transmissions, this part of the economy has been stable for a while. One trend that we have seen while these automotive clients have grown over the past 10...

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Foreign accounts and the IRS

There is currently a trial underway that is drawing a substantial amount of publicity and not just because it relates to a wealthy individual running afoul of the complex US Tax code. While Mr. Manafort is garnering a lot of publicity because of who his past...

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GP CPA adopts a robot

Major shifts in technology have hit almost every area of modern life. Somewhere, someone is trying to disrupt your business/industry/life; perhaps even more than one! This concept of constant disruption also goes hand-in-hand with the saying “there’s an app for that”,...

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Payroll with GUSTO!

Payroll is often a thankless task for business owners. Whether your payroll is hourly, salary, organized, or chaos, it is still a time consuming endeavor. There are federal laws, state laws, local ordinances, and regular changes at every level. Specialized industries...

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A midyear checkup with GMP CPA

July marks the midpoint of the calendar year and most often brings the hottest days of the year (especially in Charlotte!). GMP CPA looks forward to July, not only for vacations, but because in most cases we now have six months of data to look over for our clients....

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What are S-corp distributions?

Let’s start this conversation by assuming the reader is already an S-corp shareholder. If not, get caught up on S-corps, HERE. For those on their second rodeo, S-corp distributions are often misunderstood, kind of like sharks. In the same way that a shark can only...

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How do I become an S-corporation?

S-corporations (“S-corps”) are the technical term for the federal tax election, aka IRS Form 2553, and are named after their place in the IRS code, subchapter “S.” S-corps are generally limited to two specific business entity types, a limited liability company (“LLC...

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A recipe for taxes…

GMP CPA has not memorized the tax code like we have the Joy of Cooking, but we reference both a lot. If your current accountant is not the advisor you hoped them to be, or you want more dark chocolate M&Ms in your life, GMP CPA would love to talk to you about your business. We may even bring cookies!

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Unlocking value in real estate

TL;DR Summary: Only a cost segregation study can unlock the value of your commercial property for a large tax deduction.Real estate has long been held as a way to build wealth and there are many examples out there (good and bad) of those who have made their fortunes...

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NC Sales Tax

State and local taxes (SALT) are often more complex than the IRS tax law and represent one of the largest compliance burdens that a business faces. Set aside [for a moment!] the current tax plan running through congress right now and that still leaves a range of state...

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Don’t waste your time
Make an appointment!

Address:
17210 Lancaster Highway, Suite # 405
Charlotte, NC 28277

Telephone: (980) 237-1714
Fax: (704) 626-5394
Email: jprusiensky[at]gmprusienskycpa.com

© 2019 GP CPA P.C.       |       Find us on Facebook and LinkedIn

© 2019 GP CPA P.C.

Find us on Facebook and LinkedIn